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24th Oct - Support Break in Cotton #2 Spurs Bears

24 October 2013

MONTHLY CHART - CONTINUATION:

Resistance has been found from the area of the old 91.38 Mar-08 high, ahead of the 23.6% retracement

DAILY CHART - Dec-13:

The market had been holding above the 50% retracement level but has now seen initial violation of this, the rising support line and the 81.30 Sep-12 high. This gives a bear signal and a drop to the 76.13/17 area (76.4% pullback and equality target (Aug/Sep downleg extended off early Oct high)) could well be seen now.

Any rebound should be muted at this stage, and sellers on rallies will likely have stops above the Oct 87.78 high.

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24th Oct - EUR/USD Nears Key Resistance Area

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17th October - How good is Gold now?

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